Some sobering statistics...

Peter Wu

13 August 2011

I happened to see this today in the local newspaper. Reproduced verbatim:

If the US government was a family, they would be making $58,000 a year, they would spend $75,000 a year, and they have $327,000 in credit card debt.

They are currently proposing big spending cuts to reduce their spending to $72,000 a year. These are the actual proportions of the federal budget and debt, reduced to a level that we can understand – Dave Ramsey, US radio host.

Okay, let say they manage to cut spending to $72,000 a year. What happens to the $14,000 shortfall? More alarmingly, what happens to the credit card debt?

The idea of appointing Wen Jiabao as the administrator and putting him in the Oval office as sole charge does not sound too far-fetched.